Via Free Beacon:
(Reuters) – Wall Street’s main indexes rose sharply on Tuesday, with the Dow hitting the 26,000 mark for the first time, as the fourth-quarter earnings season kicked into high gear.
UnitedHealth rose 2.2 percent after the largest U.S. health insurer reported results that beat analysts’ estimates and raised its full-year profit forecast.
Citigroup Inc jumped 1.4 percent after the lender reported profit that topped Wall Street expectations as strength in consumer businesses made up for lower revenue from bond and currency trading.
Hopes of strong quarterly earnings, supported by steep cut in corporate taxes, and solid global economic growth have bolstered Wall Street’s optimism in the start to 2018.
“Not only is the U.S. coming off a strong quarter, but the new tax reform measures are continuing to provide a boost, with investors keen to hear more about what impact this will have on futureearnings,” said Craig Erlam, senior market analyst at online foreign exchange broker Oanda.